Russian stock likely to make growth attempt at opening

MOSCOW, Apr 12 (PRIME) -- The Russian stock and currency markets may edge up at opening on Thursday due to more or less calming global environment, but escalation of acute conflicts and strengthening geopolitical risks may trigger new waves of sales, experts said.

“The U.S. Department of the Treasury is reportedly not supporting the idea of extending sanctions to Russia’s sovereign debt while no decision on a military operation in Syria has been made yet. One can see a relative softening of the external background although geopolitical risks remain high,” Olma senior analyst Anton Startsev said.

All news on the conflict between Russia and the U.S. in Syria will influence the market greatly, Startsev added.

The RTS index and the currency market may rebound up at opening, he also said.

Sergei Korolyov, head of Zerich Capital Management’s sales department, agreed that the ruble’s prospects are determined by the development of the Syrian conflict.

“Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia because they will be coming, nice and new and “smart!” the U.S. President Donald Trump said on his Twitter account on Wednesday, which made the ruble hit the lows of 65 rubles against the U.S. dollar and 80 ruble against the euro.

Further escalation may fire new waves of panic and sales in the ruble, Korolyov said.

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